Trump’s Memecoin Surges After Truth Social Endorsement

Donald Trump’s official memecoin, $TRUMP, became the top-performing cryptocurrency during Monday’s Asian trading hours after the U.S. President praised it on Truth Social. Trump called the token “the greatest of them all” and “cool,” sparking an immediate price surge.

According to CoinGecko, the TRUMP token jumped from $10.93 to $12.25 following the post, marking a 12% gain before settling at $11.91—still up 9% on the day. This rally made it the day’s best-performing digital asset in Asia, outpacing Ethena (up 8.9%), Bonk (up 8%), and Mantle (up 7%). The broader crypto market, measured by the CoinDesk 20 Index, rose around 2%.

Launched in January, the TRUMP token initially soared to a multi-billion-dollar market cap thanks to endorsements from Trump himself. However, it later plunged 75% amid market volatility and rising political scrutiny.

House Democrats, led by Rep. Sam Liccardo, have introduced the MEME Act, which seeks to ban federal officials and their families from profiting from meme coins. The act was introduced after concerns about the TRUMP token, with accusations of insider trading and potential foreign influence. The legislation would also apply to financial assets like Truth Social stock.

Despite these concerns, the SEC has stated that memecoins such as $TRUMP are not classified as securities and thus fall outside its regulatory scope.

As meme coins continue to blend pop culture, politics, and finance, Trump’s digital token proves how influential figures can drive rapid market shifts—fueling both gains and controversy in the crypto space.